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Agreement on simplification of trade procedures

19. May 2012. | 09:25

Source: Tanjug

The Serbian Ministry of Agriculture and Trade and the International Finance Corporation (IFC) Wednesday signed an agreement expected to reduce trade logistics constraints and harmonize border clearance procedures in the Western Balkans.

The Serbian Ministry of Agriculture and Trade and the International Finance Corporation (IFC) Wednesday signed an agreement expected to reduce trade logistics constraints and harmonize border clearance procedures in the Western Balkans.

The document was signed by Serbia's Minister of Agriculture and Trade Dusan Petrovic and IFC Regional Manager for the Western Balkana Per Kjellerhaug.

The signing of the agreement marked the beginning of the implementation of the project aimed at enabling regional enterprises to deliver goods quickly to various markets with reduced transportation costs and making them more competitive, in line with practices of the European Union and Central European Free Trade Agreement (CEFTA).

“The simplification of trade procedures is now starting to gain momentum,” Minister Petrovic said after signing the agreement.

He said that the Ministry of Agriculture and the Serbian government had been particularly committed to the task the over the recent months.

Kjellerhaug said that the agreement would greatly help facilitate trade between Serbia and its regional neighbors, adding that the next thing to do was a formal agreement between the Serbian government and the IFC, a member of the World Bank Group.

With the reduction in the exports costs and simplified border clearance procedures, exports from the region to the EU should increase considerably, he said.

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